By Claudia Abercrumbie
The Abercrumbie Group
In the midst of seven amazing days in the Cincinnati region with Black Tech Week, the Cincinnati Music Festival, and the Walk of Fame, The Abercrumbie Group was proud to present The 2022 Think Tank on Equity & Inclusion in Wealth. Over 200 corporate leaders, community leaders, and Black business owners gathered on Friday, July 22, at the Hard Rock Cafe to discuss bold strategies to measurably close the racial wealth gap.
The day included a virtual conversation with special guest, Mehrsa Baradaran, author of “The Color of Money: Black Banks and the Racial Wealth Gap,” and Vice Mayor Jan-Michele Lemon Kearney, panel discussions on bold internal and external corporate strategies to significantly advance racial wealth equity, a lunch conversation on breakthrough strategies to grow larger scale minority-owned businesses, and a special spotlight session for Black women entrepreneurs.
Thanks go to Fifth Third Bank, Greater Cincinnati Foundation, Minority Business Accelerator, Ohio National Financial Services, Toyota Motor North America, and other corporate partners for their support and participation in this important conversation.
African Americans still own only one to two percent (1-2%) of U.S. wealth, White households have 10-12% more net worth than Black households, and only one percent (1%) of more than $130 billion in annual venture capital goes to Black entrepreneurs. Without significant disruptions and major structural reforms by government and Corporate America, this unconscionable racial wealth gap will continue for generations to come.